#20 | Microalgae rice dumplings, Float Foods' $2.2 million funding injection, Cloud kitchens update
Updates in the world of plant-based food and food technology in June 2021🌱 🌿
Welcome to The Potluck newsletter. This week, I cover that’s trending in the world of plant-based food and food technology. Let’s tuck in. Subscribe here:
Microalgae rice dumplings, anyone?
You might be chowing down a parcel of rice dumpling loaded with pork belly strips for Dragon Boat Festival today, but you might find yourself eating rice dumplings made with microalgae in the near future. Giving the festival a sustainable twist is Sophie's Bionutrients, a B2B sustainable urban food production technology company, which has tied up with established Taiwanese food company Hsin Tung Yang to produce rice dumplings (zongzi) stuffed with 'meat' made from microalgae suitable for vegetarians.
Instead of minced pork, the pyramid-sized parcels of steamed brown glutinous rice are stuffed with chunks of the alternative meat, three types of mushroom – Lion's Mane, King Oyster and Shiitake, all wrapped up in traditional bamboo leaves. The product is only available in Taiwan but it may not take long before the parcels land here. More info here.
Float Foods raises an egg-cellent round of seed fundingÂ
Float Foods, the company behind OnlyEg, Singapore’s first plant-based whole egg substitute has cracked an egg-cellent breakthrough in its latest seed funding round, raising an oversubscribed amount of S$2.2 million. The injection of fresh funding will boost R&D efforts and accelerate commercialisation efforts for OnlyEg, which is slated to be launched in Singapore by next year.
OnlyEg, which is made with legumes-based substitutes, will be available in two products - egg yolk and egg white. A fresh crop of investors include the Ebb & Flow Group, a F&B company that counts vegan burger joint Love Handle Burgers as one of its brands, and Innovate 360, Singapore's first food incubator, where Float Foods has been operating from. Vinita Choolani, CEO of Float Foods shares that Float Foods plans to start expanding to China, India and Indonesia - markets with a burgeoning demand for plant-based food.Â
TiffinLabs raises fund for embattled F&B industry
After a successful year of operating 45 virtual restaurant brands in a pandemic-stricken year, digital restaurant group TiffinLabs, is giving back to F&B industry with a S$1 million restaurant relief fund. The fund will aid restaurant and bars to tap on underutilised kitchens and turn into cloud kitchen outfits to boost delivery revenues. Some of TiffinLab’s delivery optimised restaurant brands include Korean-Mexican brand La Takorea which has dishes using plant-based chicken brand TiNDLE, and The Biryani Bar by veteran chef Milind Sovani, who used to helm Rang Mahal Indian restaurant.Â
Cloud kitchens a hit
Cloud kitchen provider Smart City Kitchen has opened its sixth facility in Bishan, a residential district in Central Singapore earlier this month. The business of cloud kitchens is thriving given that all 27 cloud kitchens at the Bishan facility were snapped up prior to its opening. Food brands there include Jollibee, Guzman Y Gomez, Pastamania, Eighteen Chefs and WingStop.
Arin Aghazarian, Country Manager at Smart City Kitchens, explains the fast-growing concept: "Cloud kitchens allow restaurateurs to set up kitchens in populous areas of Singapore and sell their food on delivery platforms. They require much lower overheads than a traditional restaurant operation, and allow restaurateurs to start in a fraction of the time."
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